Traders are eying key economic data on Friday. Consumer inflation forecast to accelerate to 6.8% annually from 6.2% while Core CPI expected to rise to 4.9% from 4.6%. Producer prices, The monthly increases are predicted to be 0.7% in the headline rate and 0.5% in the core.Wages point to still …
Read More »Inflation, Stimulus Two Key Questions ECB Seeks To Answer
The two major questions that the European Central Bank will have to answer are: (1) Will inflation eventually settle at its target? and (2) Are asset purchases still useful?ECB policymakers are hoping that too-high inflation will prove transitory and eventually subside. Since the pandemic struck, the European Central Bank has …
Read More »New Zealand’s Manufacturing Activity Retreats in November
New Zealand’s manufacturing sector witnessed a lower level of expansion in November, according to an economic survey released early Friday.The BNZ-Business New Zealand Performance Manufacturing Index (PMI) for November dropped 3.6 points to 50.6, which was still in expansion, but at slower rate than was seen in the first half …
Read More »BoC’s Gravelle: Concerns Over Inflation More Than Usual
Bank of Canada Deputy Governor Toni Gravelle said on Thursday that concerns about upside inflation risks are heightened much more than usual. “We are likely to react a little bit more readily to the upside risk given it’s already above our inflation-control range”, Gravelle added.For reference, the bank’s inflation-control range …
Read More »AUD/USD Traders Eying US CPI
The AUD/USD is now depending on o the US CPI to be released on Friday. Traders are eying the deviation between the US Fed and Reserve Bank of Australia. The AUD/USD pair is traded at 0.7150, lower by 0.25% during Thursday’s session and is set to settle between a range …
Read More »Russian Central Bank Expected To Hike Rate As Inflation Surges
Russia’s inflation, in November, is climbing to 8.4%, touching its highest reading in about six years according to the Rosstat national statistics service’s statements on Wednesday. Prices have risen over the last 18 months as the economy emerges from the coronavirus slowdown, and Russia’s Central Bank has hiked interest rates …
Read More »RBA Keeps OCR Steady At 0.10%
The Reserve Bank of Australia (RBA) board members decided, on Tuesday, to leave the official cash rate (OCR) unchanged at a record low of 0.10% during their December monetary policy meeting.The board decided to maintain the interest rate on exchange settlement balances at zero percent. The board decided to continue …
Read More »BoC Ponders Groundwork For Rate Hikes
The Bank of Canada is expected to keep the major part of focused spotlight on inflation at its policy decision, as the country’s central bank is about to encounter an aggressive campaign in favour of interest rate hikes. Policy makers led by Governor Tiff Macklem are unlikely to raise their …
Read More »Economic Optimism Recovers From Covid-Era
Optimism about the U.S. economy registered its biggest bounce in more than a year in December, after sinking to COVID-era lows a month earlier.The IBD/TIPP Economic Optimism Index, an early monthly read on consumer confidence, jumped 4.5 points to 48.4. Still, the index remained in modestly pessimistic territory. Readings above …
Read More »Banks Raise Concerns Over US Inflation
Officials from some US banks on Tuesday said that there are real concerns about the impact of higher inflation, adding pressure on the Federal Reserve to implement plans to slow down the pace of its tapering at a faster pace.The International Monetary Fund last week warned of intensifying inflationary pressures, …
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